Louisiana Laws and Legal Materials

Welcome to OVLG's Louisiana laws and legal information center. Here, you can learn about state laws, legal information, and court information. Get links to state government websites and much more.

Debt relief option available in Louisiana

Debt settlement - You can negotiate with creditors and settle debts into a lower amount.
Debt consolidation - You can consolidate multiple high-interest debts through a low-interest personal loan or a balance transfer card.
Debt management plan - A credit counseling agency will negotiate with creditors and arrange a repayment plan.
Bankruptcy - You can file Chapter 7 or Chapter 13 bankruptcy based on your financial situation.

Louisiana Debt Collection Law

Louisiana's debt collection laws are controlled by the Fair Debt Collection Practices Act (FDCPA). The FDCPA only covers consumer debts and doesn't cover commercial debts. Consumers may complain to the FTC or the Consumer Financial Protection Bureau about abusive debt collection agencies.

A consumer can report against collection agencies if:

The collection agency gives false information about themselves, debt owed, or others.
They make threatening or abusive calls.
They call before 8 AM or after 9 PM without prior permission.
They call debtors at their workplace.
Contact family members of the debtor.
Send multiple emails regarding debt collection in a month.

Visit the Louisiana State Legislature's website for more details.

The Louisiana statute of limitations

Louisiana has a three-year statute of limitations on debt collections (L.A. Civ. Code § 3494(4)).

Additional legal resources for consumers

Louisiana bankruptcy laws

Debtors must pass a means test to file for bankruptcy. Debtors' must also calculate their average income from the last six months. Chapter 7 will be the option if the average is lower than the state's median income. If it is higher, their profile will be rechecked. Based on that assessment, either Chapter 7 or Chapter 13 will be available.

After meeting living expenses, people who can pay $100 or $6,000 over five years to unsecured debts, Chapter 7 is an option for them. People who can pay over $6,000 but less than $10,000 will be rechecked. People paying $10,000 or more will be ineligible for Chapter 7. Chapter 7 eligible debtors may also file Chapter 13.

Required documents:

Income proof from all sources
Monthly living expenditures
All secured and unsecured debts
Proof of all key financial transactions from the two years before bankruptcy
List of all assets and possessions
Tax returns from two years
Every property deed
Loan paperwork
All vehicle titles

Know more about

Company formation in Louisiana

How do I Form a Company in Louisiana?

You should follow these steps to form a company:

Choose a name - Give your company a unique name. Use "corporation," "corp," "inc," "ltd," or another abbreviation.
Select a Registered Agent - The law requires you to appoint a registered agent. It must be done before filing your Articles of Incorporation.
Submit Articles of Incorporation - The Louisiana Secretary of State must approve your Articles of Incorporation. You may send your Articles of Incorporation by mail or in person.
Get an EIN - The IRS assigns an EIN or FEIN to identify corporations on tax filings, such as federal company income tax returns.
File the Beneficial Ownership Information Report - Most US companies must file a BOI Report with FinCEN.
Create Corporate Bylaws - These are your company's internal rules.
Set Up an Organizational Meeting - The corporation's first official meeting after incorporation.
Open a Corporate Bank Account - A corporate account is necessary to easily take payments, pay bills, and retain funds.
File State Reports & Taxes - Louisiana corporations file an annual report. They pay net income and franchise taxes in the state.

Does Louisiana Need Business Licenses?

Louisiana companies that sell products will need resale certificates or seller's permits to pay sales taxes. Depending on your business and county, you may need professional services licensing, liquor licensing, and food licensing.

What Does a Louisiana Business License Cost?

You may apply for a Louisiana resale certificate free of charge. There are other costs like State LLC registration costs - $100 and corporation registration costs - $75. You can start a sole proprietorship or partnership company without a registration fee.

How can you dissolve your Louisiana company?

You may dissolve your Louisiana company by filing a long-form dissolution application or a notarized affidavit of dissolution with the Louisiana Secretary of State. The filing fee is $60, and the expedited fee is $30.

Details of creating a Louisiana company

Louisiana wills and living trusts

How do Louisiana living trusts work?

A trustor can assign his/her assets through a living trust. After the trustor’s death, the beneficiaries will receive the assets as per the trust laws.

How much does Louisiana trust formation cost?

If you use an online program, a simple revocable living trust may cost a few hundred dollars. If you consult a lawyer it may cost more than $1,000.

Is a trust better than a will in Louisiana?

Trusts are better than a Will. Trusts can distribute your assets before or after your death. You can use a trust to avoid probate. However, assets that are not included in the trust can be assigned to the beneficiaries by a Will.

Is a handwritten Will allowed in Louisiana?

A handwritten Will is valid in Louisiana. The entire document must be written, signed, and dated by the testator. As per the Louisiana Code of Civil Procedure Article 2883, two reliable witnesses are also necessary.

Do Louisiana trusts require probate?

In Louisiana, you can set up a revocable living trust to avoid probate. But if you choose to make a Will, probate is unavoidable.

What invalidates a Will in Louisiana?

In Louisiana, two competent witnesses should sign the Will along with the testator. If any parties violate state laws regarding Wills, the Will may be invalid.